Hello,
BetOnMarkets have a bet type called the 'Stop Bets' (Bull or Bear Stop).
It is specified (for a BULL Stop) as:
I am struggling to understand how this 1% is calculated and how it translates to pips.
I have asked their helpdesk and received an example as below:
I then made a demo bet to test.
I cannot get the same figures it shows me on my 'Portfolio' screen as the current value of my bet using the formula above.
Does anyone know how this 1% is calculated and how it relates to pips? Can the difference be all due to these mysterious charges?
Thanks in advance
BetOnMarkets have a bet type called the 'Stop Bets' (Bull or Bear Stop).
It is specified (for a BULL Stop) as:
QuoteDislikedI wish to win XX for every 1% RISE in the CurrencyPair
and I wish to be stopped out if the market falls to Price
I am struggling to understand how this 1% is calculated and how it translates to pips.
I have asked their helpdesk and received an example as below:
QuoteDislikedExample:
Bull Stop: Win USD50 for every 1% rise in the EUR/British Pound ; stop-loss
level : 0.6493 ; expiry date: (No expiry).
If the current market price of EUR/GBP is 0.6586
Calculation :
The % up = [(new level /stop loss level)-1]*100 = [(0.6586/0.6493)-1]*100
=1.43%
Hence theoretically , the value (resale price) of the bet should be at amount
= 1.43 *USD50 =USD71.5
However , we had charged a resale commission on it , hence , the value would usually lower than USD71.5
I then made a demo bet to test.
QuoteDislikedBet Details
Bear Stop: Win USD250 for every 1% fall in the EUR/USD ; stop-loss
level : 1.4859 ; expiry date: (No expiry).
Pricing Information (EUR/USD)
Current Price1.4327
Market price1.4327 at the time of purchase of the bet
Win USD250 for every 1% fall in the EUR/USD ; stop-loss level : 1.4859
; expiry date: (No expiry).
USD 948.78 (Purchase Price)
USD 842.95 (Current Price)
I cannot get the same figures it shows me on my 'Portfolio' screen as the current value of my bet using the formula above.
Does anyone know how this 1% is calculated and how it relates to pips? Can the difference be all due to these mysterious charges?
Thanks in advance